Oliver is surprised when someone shoots and kills one of his targets. As his plan is to bring people to justice vs. outright killing them, Oliver doesn't appreciate the help and searches for the gunman. He soon learns that the man, Deadshot, is taking out businessmen who are scheduled to bid at an auction on an energy company and Walter is one of the bidders. Realizing he can't protect his family and stop Deadshot at the same time, Oliver enlists Sergeant Lance's help, but his plan has dire consequences. Meanwhile, Laurel and Tommy get caught in an awkward situation with Oliver.
Oliver tracks down another millionaire from his list, but before he can get the answers he wants, James Holder is killed by an assassin known as Deadshot. Initially, the police suspect that The Hood is responsible for the murder, but the evidence begins to prove that he did not kill anyone. Oliver decides to build a new night club above his hideout to explain where he goes at night. While comparing the competition, Oliver finds Thea, who reveals that Laurel and Tommy had been sleeping together during Oliver's absence. Laurel becomes suspicious when Oliver does not react to the news.
Meanwhile, Oliver uses his contacts in the Solntsevskaya Bratva to learn the assassin's true identity, and enlists the help of Sergeant Lance to stop Deadshot from assassinating more wealthy people. Oliver manages to stop Deadshot by knocking him unconcious by shooting an arrow through his eyepiece (though it appeared that he killed him), but his bodyguard John Diggle is shot during Floyd Lawton's attempt. Oliver is forced to reveal his true identity as the vigilante to John in order to save his life. In another flashback, it is revealed that the archer who attacked Oliver was actually trying to help him. Oliver understands and escapes, but is pursued by an unknown group of armed men.
- Antagonist(s): Deadshot
Preparation ran from July 19 until July 27, 2012. Shooting ran from July 30 until August 9, 2012.
- Beat and the Pulse (Still Going Remix) by Austra
- Dark Star (Marco Hawk Remix) by Polica
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